Page 2
The Golfi Team Real Estate Market Watch
About Rob Golfi
R
ob’s career in real estate began in October 1997 and putting the needs of his clients first has always been a primary principle. Rob joined RE/MAX Escarpment January 1st 1999. As his career grew and with changing times in the marketplace, Rob realized that the team concept was the next step in order to maintain the same level of service that his clients had come to expect. Hence, “The Golfi Team” was formed, comprised of a select group of individuals who work well together and share Rob’s team philosophy. In 2003, the team received the prestigious honour of being in the top 100 Real Estate Teams for RE/MAX Canada*. And this status continues to date*. Rob has received every major award available at RE/MAX including the Diamond Club (2010-2012)*, 100% Club (19992001)*, Platinum Club (2002)*, Chairmans Club (20032009)*, Hall of Fame (Inducted in 2003)*, and the Lifetime Achievement Award (Inducted in 2006)*, Circle of Legends (2013).* Rob’s experience and aggressive negotiating skills are key in this business. Any agent can list your house, but Rob’s knowledge and ability to negotiate constructively gives his clients peace of mind in dealing with the single most important investment in their lives. Rob has an extensive marketing background that compliments his real estate career. He has achieved an impressive visual identity in the market place. Rob also prides himself on his ability to stay current with in the industry and to remain competitive in the marketplace. His hard work and dedication has awarded him the honour of consistently ranked in the Top 5 of nearly 2500 sales agents in the Hamilton-Burlington and Niagara Area since (2003).** Currently (2013)* Rob is ranked Number 1 in transactions sales ends in the HamiltonBurlington and Niagara Area.
“Each client is always treated with First Class Service.” *Based on RE/MAX Ontario Atlantic Canada annual commission criteria **Based on The Real Estate Association of Hamilton-Burlington total transactions January 1, 2003 – March 31, 2013.
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Home Inspection may require a Team Approach
S
i n c e writing about changes coming to the home inspection industry, I have received countless emails from home inspectors, real estate agents and buyers. Buyers complained after closing about problems with their home that were not caught during the home inspection. This included serious mold behind one of the walls in the basement, a defective fireplace and a furnace that was working but would soon require to be replaced. Some buyers blamed their real estate agents, stating that they only recommended an inspector who would approve the home quickly. In the situations noted above, it would have been difficult for a home inspector to have noticed the issue, primarily because they are not able to look behind any walls or under floors and only furnace and fireplace specialists may be able to detect certain flaws in these items. Real estate agents will typically provide the names of three inspection firms for their clients to choose from. In rural properties, it is common to have separate inspections for the home, the well and the septic system, as these all require different expertise to properly inspect and advise potential buyers. When you now consider that the average prices for homes in the GTA is now over $500,000, and with a majority of homes being over 20 years old, it may be time to take a similar team approach when it comes to inspecting a home prior to any purchase decision. For example, every fireplace should be inspected by a qualified wood energy technology transfer professional once a year. This is a real safety issue as an improperly working fireplace can cause a fire in your home. As was pointed out to me by Alan Hilts of Nighthawk Chimney sweeps, homes built before 1955 likely have unlined chimneys, meaning that there is not much protection between the heat and the rest of the house.
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1 2 Welcome re Welcome to the Futur Future
January 20, 2014
Homeowners should have their furnaces and HVAC systems checked once each year for similar reasons. Not only should you make sure that your equipment is operating safely, you may be able to make changes to your equipment that will make your system operate more efficiently, saving you money in the long term. Sellers should consider such an inspection before they put their home up for sale, to demonstrate to any buyer that the system is operating safely. Mold is becoming an even larger issue with older homes, especially after the flooding and sewage backup that occurred last summer in many areas of the GTA. The good news is that there are now companies that can inspect for mold without having to look behind walls, due to their sophisticated infrared equipment, thus being able to give a buyer comfort that they will not be facing significant bills in the future to remedy a mold build-up. This can be very expensive as it typically requires removing substantial amounts of drywall and then spraying the entire interior of the home to remove the mold spores. Some companies that offer this service are TriStar Disaster recovery Services, Canada Restoration Services and Greenstream Environmental. Konstantino Zaraliakos, the President of Tri-Star Disaster Recovery Inc., tells me that the cost to conduct a mold inspection can be done for as little as $300. The size of the home and the extent of the mold damage within the home will determine how many samples are needed. He says that more and more buyers are now requesting this inspection as part of their home inspection process. He also states that even homeowners who are not selling their homes are requesting these inspections because of their desire to know that their home is healthy. When you are about to make one of the largest purchase decisions of your life, it is important to have as much information that you need in advance. A home inspection team may supply the answer. Mark Weisleder is a lawyer, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com
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January 20, 2014
The Golfi Team Real Estate Market Watch
Page 3
Facts About the GOLFI TEAM… 3 Over $80 Million in Sales Annually** 3 #1 in Sales Transactions in Hamilton-Burlington-Niagara* 3 #1 Real Estate Office in Hamilton-Burlington* 3 Ranked Top 10 Teams in Canada for ** 3 Ranked Top 50 Teams world wide** Award 100%
Club
1999-2001*
Rob Golfi Sales Representative
Award Platinum
Club
2002*
Award
Chairman’s
Club
2003-2009*
Award
Hall of Fame
Inducted 2003*
Award Lifetime
Achievement
Inducted 2006*
Award
Diamond
Club
2010-2012*
Award Circle
of Legends
2013*
* Based on RE/MAX Ontario Atlantic Canada annual commission criteria. **Information based on recorded total transactions, buying and selling ends, from the REALTORS® Association of Hamilton-Burlington Jan. -Aug. 2013. ***Source: RE/MAX® Canada and RE/MAX® International 2012.
OVER $600 MILLION IN REAL ESTATE SALES *#1 Brokerage in the Realtors Association of Hamilton Burlington MLS from 1994 to 2013 consecutively. **Year End Standings for 2013, based on residential commissions paid. Rankings are compiled from figures submitted by regional offices. Not intended to solicit properties currently listed for sale.
Canadian Home Sales Moderate Further in December
A
ccording to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013. Highlights: • National home sales fell 1.8% from November to December. • Actual (not seasonally adjusted) activity stood 12.9% above weak December 2012 levels. • The number of newly listed homes dropped 4.3% from November to December. • The Canadian housing market remains in balanced territory. • The national average sale price rose 10.4% on a year-over-year basis in December. • The MLS® Home Price Index (HPI) rose 4.3% year-over-year in December. The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems was down 1.8 per cent on a month-overmonth basis in December 2013, marking the third straight monthly decline. Activity now stands 5.2 per cent below the peak reached in September 2013 (Chart A). Sales were down on a month-overmonth basis in about 60 per cent of all local markets in December, with declines in Calgary, Edmonton, and Greater Toronto more than offsetting gains in Greater Vancouver and the Fraser Valley, as well as a sizeable rebound from a quiet November in St. Catherines. “Activity has gradually eased back from stronger than expected levels
last summer and is now roughly in line with the ten year monthly average,” said CREA President Laura Leyser. “We’ll likely continue getting mixed signals in the months ahead, with positive year-over-year comparisons for sales masking the recent moderation in the monthly sales trend. As always, local housing market trends can be very different than national ones, so your REALTOR® remains your best bet for understanding how the market is shaping up where you live or might like to.” Actual (not seasonally adjusted) activity was up 12.9 per cent from December 2012. Yearover-year increases were posted in about 70 per cent of all local markets, led by gains in Greater Vancouver, the Fraser Valley, Calgary, Edmonton, Greater Toronto, and Hamilton-Burlington. A total of 457,893 homes traded hands via MLS® Systems of Canadian real estate Boards and Associations and other cooperative listing systems across the country in 2013. This represents an increase of 0.8 per cent compared to 2012 (Chart B). “National sales activity has softened in recent months and is expected in 2014 to remain down from levels reached last September,” said CREA Chief Economist Gregory Klump. “That said, absent further mortgage rule changes, sales in 2014 may surpass the annual total for 2013 if demand holds steady near current levels as strengthening economic and better job growth offset the impact of further expected marginal mortgage interest rate increases.” The number of newly listed homes fell 4.3 per cent on a month-overmonth basis in December. New supply was down in two-thirds of all local markets, led by declines in
Calgary, Greater Toronto, and Hamilton-Burlington. With new listings having eased by more than sales, the national sales-tonew listings ratio climbed to 55 per cent in December compared to 53.6 per cent in November. This indicates a slightly firmer housing market but remains well within balanced territory marked by the range from 40 to 60 per cent, as has been the case since early 2010. Slightly more than half of all local markets posted a sales-tonew listings ratio in this range. The number of months of inventory is another important measure of balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity. There were 6.2 months of inventory at the national level at the end of December, up from 6.1 months at the end of November. As with the salesto-new listings ratio, the current level of the months of inventory measure indicates that the Canadian housing market remains well balanced. The actual (not seasonally adjusted) national average price for homes sold in December 2013 was $389,119, an increase of 10.4 per cent from the same month last year. The size of year-over-year average price gains continues to reflect the decline in sales activity last year among some of Canada’s most active and expensive markets, which dropped the national average at that time. Removing Greater Vancouver and Greater Toronto from national average price calculations cuts the yearover-year increase to 4.6 per cent. The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends because it is not affect-
Call Today 905-575-7700
ed by changes in the mix of sales activity the way that average price is. The Aggregate Composite MLS® HPI rose 4.31 per cent on a year-overyear basis in December 2013, up from a 4.11 per cent gain in November. Year-over-year price growth picked up among all property types tracked by the index with the exception of townhouse/row units where price growth was unchanged from November. Year-over-year price gains were led by one-storey single family homes (+5.07 per cent). This was closely followed by two-storey single family homes (+4.93 per cent), townhouse/row units (+3.13 per cent) and apartment units (+2.87 per cent). Year-over-year price growth in the MLS® HPI was mixed across housing markets tracked by the index, led by Calgary (+8.74 per cent) and Greater Toronto (+6.31 per cent). Greater Vancouver recorded a second consecutive year-over-year increase (+2.13 per cent) following more than a year of declines between late 2012 and late 2013.
Crossword Solution
Page 4
The Golfi Team Real Estate Market Watch
January 20, 2014
Grimsby, Lincoln West Lincoln & Niagara
Rob Golfi*
Grimsby
$259,900
beAmsville
$274,900
smithville
$448,000
8 Pleasant Grove Terrace
4108 Ashby Street
7 Wade Road
Clean bright and spacious freehold townhome in fantastic neighbourhood finished top to bottom, features all new flooring, new kitchen, crown moulding, finished rec-room in basement, freshly painted, fenced yard and interior access to garage. Move in ready condition, available for immediate possession!
BRIGHT & SPACIOUS - 2 storey, 3 bedroom freehold end unit in Beamsville’s hillside neighbourhood, features professionally finished rec-room, large kitchen & dinette with sliding doors to private fence yard backing onto green space. Beautifully decorated and maintained. Shows like a dream!
4 level side split in a prime location on quiet dead end street. 3+2 bedrooms, in-ground pool, walk up from basement, double garage, & large driveway. Updated kitchen, windows, hardwood floors, and roof. Oversized lot that can possibly be severed for a corner building lot or build a garage. Buyer to verify zoning regulations.
$1,038 per/mth P&i / O.A.C.
WATERFRONT
Grimsby
$1,098 per/mth P&i / O.A.C.
$1,789 per/mth P&i / O.A.C.
WATERFRONT
$1,769,900
Grimsby
$885,000
West liNCOlN (st. ANNs) $539,900
9 Lochside Drive
143 Lake Street
5476 Attema Crescent
ONE ACRE WATERFRONT ESTATE – features Luxury 4400 sq.ft. custom built bungalow with a private rare beach frontage and riparian rights, finished top to bottom with in-law suite, 9’ ceilings, 3 tier patio off sun-room, loft to roof top patio, main floor den, and floor to ceiling windows. Shows like a dream!
FABULOUS FIND – Exclusive listing to the Golfi Team. Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private culde-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.
CUSTOM BUILT HOME –sitting on 1.11 acre lot in prestigious crt, family size kitchen with maple cabinets, granite counters & breakfast bar, gleaming hardwd flrs, showcase fireplace w/overhead space that can hold a 55” flat screen, 9 ft. ceilings, 40 pot lights, & water filtration system.
$3,535 per/mth P&i / O.A.C.
$7,069 per/mth P&i / O.A.C.
beAmsville
$291,900
JOrDAN villAGe
$849,900
$2,156 per/mth P&i / O.A.C.
Grimsby
$569,900
4088 Cassandra Dr. Unit #25
3792 Main Street
334 Mud Street West
3 storey 1900 sq.ft. end unit freehold features 9ft ceilings, 3 great size bedrooms, master with ensuite and walk-in closet, large eat in kitchen, rear yard backs onto park, double car garage and minutes to all amenities. To be built.
INCREDIBLE! Two and a half storey, four bedroom, all brick home, built in early 1920’s in historic Jordan Village. Features coffered ceilings, leaded glass windows, hardwood floors. Zoned residential/commercial. Sitting on large 86 x 165 foot lot.
48 ACRE HOBBY FARM - minutes to town & QEW, features 2 storey with 3 bedrooms and 2.5 baths, hardwood floors on main level, spacious family room with wood burning fireplace, main floor laundry, partially finished basement, 26x48 ft. out-building with hydro, & 5 acres of bush.
$1,202 per/mth P&i / O.A.C.
WellAND
$424,900
$3,395 per/mth P&i / O.A.C.
Grimsby
$324,900
$2,276 per/mth P&i / O.A.C.
Grimsby
$425,000
190 Creekside Drive
541 Winston Rd., Unit 47
25 Red Haven
Uniquely designed open concept 3 bedroom bungalow home approximately 2000 sq.ft.! Upgrades include maple kitchen, granite, hardwood, porcelain tiles, stone gas fireplace, 9 ft. ceilings, upgraded lighting and plumbing fixtures, and a large covered patio.
IMMACULATE FREEHOLD 2 STOREY END UNIT – Built by Brant Haven homes, features 1576 sq.ft. of luxury living by the lake, 3 bedrooms with ensuite bath and walk in closet, gorgeous hardwood/ceramic & berber floors, bedroom level laundry, unspoiled basement with rough in bath.
Outstanding & immaculate bungalow – features gorgeous hardwood floors, cathedral ceilings, master bedrm with ensuite & walk in closet, main floor laundry, finished rec-rm in lower level, double garage with concrete driveway.
$1,697 per/mth P&i / O.A.C.
$1,298 per/mth P&i / O.A.C.
www.golfiteam.com
$1,697 per/mth P&i / O.A.C.
January 20, 2014
The Golfi Team Real Estate Market Watch
Page 5
Grimsby, Lincoln West Lincoln & Niagara
Rob Golfi*
MAXIMUM EXPOSURE
SELLS YOUR
Grimsby
$259,900
10 Wentworth Drive, Unit 4 DESIRABLE COMMUNITY - Extremely well taken care of 2 bedroom unit in fabulous condition, features large spacious kitchen, full ensuite bathroom, professionally finished basement with large rec-room, and yard with great patio area. Very desirable adult community and close to all amenities.
HOME
905-945-0188
beAmsville
$69,900
4455 Timothy Lane Mobile home in immaculate condition w/private yard backing onto vineyards in Golden Horseshoe Park. 2 bedrm, separate dining rm, laminate flring throughout, vaulted ceilings, dble parking. Home is on Leased Land $491.34/mth, fee includes property taxes, water, snow removal & garbage collection. $279 per/mth P&i / O.A.C.
$1,038 per/mth P&i / O.A.C.
Home Inspections Aren’t Strictly for Buyers Anymore
A
big trend that seems to be helping the sale of homes today is something called the pre-home inspection. Essentially, this is a home inspection that is commissioned and paid for not by the buyer, but by the seller. It’s widely viewed as a proactive approach in which the seller lays their cards on the table by fessing up all that is wrong with their property. The thinking goes that potential buyers will see this as a benevolent and honest move, one which will pique their interest and motivate them to put in an offer. Knowing in detail about your home’s deficiencies means you are forewarned about repair costs which helps defend against unrealistic price reductions by potential buyers in the sales process. Because the owner knows in advance of potential problems, that knowledge gives the owner the chance to make repairs before buyers step into the house. The owner can show receipts for the work carried out or have the home inspection report updated to reflect the changes.
Besides helping the seller assess the true value of the property, it can also relieve anxieties the seller might have about the property. Perhaps someone you trust told you your roof was a shambles and should be replaced immediately. That person, let’s call him cousin Todd, offered to redo the roof for a mere $2,500. A home inspection will either confirm or deny that assertion. Maybe work only needs to be done on a small section of the roof. You could save yourself thousands and tell Todd what you really think of him. In a hot real estate market such as Hamilton’s, the need for sellers to provide proof that their property is sale worthy is even more imperative. Providing a recent home inspection for buyers provides a sense that the seller is upfront, open and honest. However, some buyers are inclined not to trust those inspections and, in an effort to test it, commission one of their own. Pre-inspections are also a great tool for a seller who suspects their property may be subject to multiple offers because it lends more strength to the offer if the buyer can remove that condition.
The Watering Can Pastry Market The Pastry Market has a selection of ready to serve delectable pastries, cookies, cakes and so much more. Bring a friend and unleash your sweet inner cravings with a coffee and fresh homemade baked good. Shared with friends it is happiness tasted and time well spent. We aim to please for whatever your heart desires. Custom Cakes and Platters are available for any theme at your special event.
3711 King Street in Vineland • 905-562-0088 • Winter Hours: Wednesday-Saturday 9am-5pm
Call Today 905-945-0188
Page 6
The Golfi Team Real Estate Market Watch
January 20, 2014
Municipal Year-to-Date Statistics December 2012 vs December 2013 P R E S E N T E D
B Y
AREA
T H E
G O L F I
T E A M
YTD Comparison Dec 2013 / 2012
Based on sales data on all home sales from December 2012 vs December 2013, REALTORS® Association of Hamilton-Burlington
Listed YTD
Expired YTD
Sold YTD
Average Selling Price
Average Days on Market
Selling % of List Price
ANCASTER (DISTRICT 42)
2013 2012
920 951
169 217
619 550
$483,410 $462,579
52 48
97% 97%
BURLINGTON (DIST. 30 to 36 & 38)
2013 2012
4273 4171
473 443
3161 3118
$486,176 $453,880
34 32
98% 98%
DUNDAS (DISTRICT 41)
2013 2012
418 424
53 64
326 353
$386,355 $355,891
44 46
98% 98%
GLANBROOK (DISTRICT 53)
2013 2012
592 572
129 114
401 359
$347,171 $342,216
61 61
98% 98%
GRIMSBY (DISTRICT 54,55)
2013 2012
577 576
91 116
408 403
$353,159 $348,694
51 52
97% 98%
HAMILTON EAST (DIST. 23,24,27,28,29)
2013 2012
1047 1068
147 186
819 821
$209,216 $194,757
38 44
97% 97%
HAMILTON WEST (DIST. 10, 11, 12)
2013 2012
888 912
130 165
650 680
$319,509 $293,065
40 45
98% 97%
HAMILTON MTN (DIST. 15,16,17,18,25,26)
2013 2012
2289 2342
257 333
1827 1804
$282,444 $264,550
36 41
98% 98%
HAMILTON CTRL (DIST. 13,14,20,21,22)
2013 2012
1550 1499
284 311
1161 1052
$177,099 $161,799
41 44
97% 97%
BEAMSVILLE (DISTRICT 981)
2013 2012
262 200
40 49
180 146
$300,634 $282,316
47 52
98% 98%
WEST LINCOLN (DISTRICT 56, 982)
2013 2012
125 101
25 30
82 57
$378,534 $336,789
65 66
97% 96%
SMITHVILLE (DISTRICT 57)
2013 2012
111 105
16 32
75 71
$268,890 $263,152
57 59
97% 97%
STONEY CREEK (DISTRICT 50,51,52)
2013 2012
1289 1294
220 252
908 942
$327,109 $313,166
42 49
98% 98%
December Sales Strong
T
he REALTORS® Association of Hamilton-Burlington (RAHB) reported 743 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system in December. This represents a 21.6 per cent increase in sales over December of last year. There were 659 properties listed in December, a decrease of nine per cent over the same month last year. End-ofmonth listing inventory was 11.4 per cent lower than last year at the same time. The average sale price of $369,212 was 7.1 per cent higher than last December. “New listings were lower than last year,” said RAHB CEO Ross Godsoe. “and were also significantly lower than the 10-year average for the month of December. Conversely, sales for the month were not only higher than last year, but were also higher than the 10year average. It’s no surprise that our end of month inventory of listings is down double digits from last year at this time.” Seasonally adjusted* sales of residential properties were 11 per cent higher than the same month last year, with the average sale price up 9.5 per cent for the month. Seasonally adjusted numbers of new listings were 8.9 per cent lower than
the same month last year. Actual overall residential sales were 20.5 per cent higher than the previous year at the same time. Residential freehold sales were 16.5 per cent higher than last year and the condominium market saw an increase of 37.7 per cent in sales. The average price of freehold properties showed an increase of 11.3 per cent over the same month last year; the average sale price in the condominium market increased 11.4 per cent when compared to the same period last year. The average sale price is based on the total dollar volume of all properties sold. Average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average days on market decreased from 55 to 52 days in the freehold market and from 52 to 47 days in the condominium market. “The real estate market in the Hamilton, Burlington and outlying areas continues to be a strong, stable market,” added Godsoe. “Residential sales are about seven per cent above the 10-year average for the month of November.” *Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
www.golfiteam.com
January 20, 2014
The Golfi Team Real Estate Market Watch
Page 7
Get your Financial “Stuff” in Order... by Gianni Leonetti, Leonetti Consulting Happy New Year… It's hard to stay organized in any aspect of life, but keeping your financial records in order is one of the most important things you can do to help your family should a crisis occur. A recent poll conducted showed that only one in four Canadians could easily locate their vital documents, so let's make 2014 the year that we all get organized to lessen anxiety when the unexpected happens. Here are some suggestions to get on the right track: Step 1: Collect all of your financial records such as insurance policies, bank
account and safety deposit box information, investment statements and more. Step 2: Collect your personal data such as wills, powers of attorney, social insurance numbers, passport numbers, health records, computer passwords, etc. Step 3: Once you have all your records gathered together, set up a filing system to organize the information. There are many free online tools that can help you save and organize important personal and financial information in one place so that family members can easily locate them in an emergency.
Step 4: Make sure you store this information in a safe place such as a secured folder on your computer, a safety-deposit box, or in a locked fireproof box. Step 5: Finally, be sure to tell key family members or friends or your lawyer where this information is stored so they can find it easily and quickly. It's so easy not to think about it now, but taking a few minutes to organize important documents can be such a relief, especially when disaster strikes. Not only does it make our lives easier it could also make a world of difference to
a loved one who has to locate this information. Don’t forget that organizing key information can help save time and money, and lessen anxiety for all concerned. If you need any assistance in doing any of the above, please don’t hesitate to contact our office. Contact Leonetti Consulting at 905-690-5052 or visit our website at www.leonetticonsulting.com.
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Check out our Blog for the latest information in Real Estate
CROSSWORD PUzzLE (Solution on Page 3)
SUDOKU 1 5
4
9
6
4
9 4 6 3 9
8 1
6 2 8 7
The Solution 9 3 8
5
5
7
2
3
4
1
6
4
7
9
1
8
1 4 7 6 8 9 2 3 5
4 7 2 1 6 8 9 5 3
6 8 3 9 7 5 1 4 2
5 9 1 3 4 2 8 6 7
8 5 4 2 9 3 7 1 6
7 1 9 8 5 6 3 2 4
3 2 6 4 1 7 5 8 9
Call Today 905-575-7700
2
2 Gracefulness of the quick and nimble (7) 3 Military vehicle (for fish?) (4) 4 Genre of 1980s and ’90s AfricanAmerican music (3,3) 5 Eagerness (8) 6 Hopelessly incapable (5) 7 Analysis for several people together (5,7) 8 In large amounts and swiftly (4,4,4) 13 Relating to the administration of justice (8) 16 Latticework for climbing plants (7) 17 German emperor (6) 19 Square (5) 21 Half open (4)
7
7
6
Down
1 Cure provided via belief in god (5,7) 9 Someone born under the first sign of the zodiac (5) 10 Dummy pill used in testing the effect of medicines (7) 11 Insubstantial person — trickle (4) 12 Threshold stair (8) 14 Peeping Tom (6) 15 Use a needle — pain in the side (6) 18 Retaliation for an injury (8) 20 Pricey (4) 22 Such type (7) 23 (Minted) drink made with bourbon, sugar and crushed ice (5) 24 Derogatory term for poor people living in mobile homes (7,5)
3
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7 2 Across
8 7 5
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Fill in the grid above, so that each row of 9 squares, each column of nine and each section of nine (three squares by three) contains the numbers 1 through 9 in any order. There is only one solution for the puzzle and the numbers shown can NOT be changed.
Page 8
The Golfi Team Real Estate Market Watch
January 20, 2014
What to Expect when you’re Extending
B
uyers often need to request an extension to their closing date. Here’s a look at the reasons why, and what to expect. The main reasons are as follows: • The buyers have not yet sold their current home. • The buyers’ financing has fallen through or the buyers have not complied with all of the lender’s requirements. The main lesson for everyone is that no buyer is automatically entitled to an extension. If a buyer can’t close, the seller can take the position that the buyer is in default, sue for the deposit and any loss that they may suffer in the resale of the property. Real estate agents are divided as
to whether you should buy first and then sell your existing home or sell first and then buy. No solution is risk-free. Buyers also need to remember that just because you are approved for a loan, you still have to fulfill all of the lender’s requirements, such as proof of income or debt repayment, before they will give you the money. When you ask for an extension, here are the terms that you can expect to face from a seller. Remember, your bargaining position is not good: • The seller will likely request an additional deposit, equal to the initial deposit, to be held by the seller’s lawyer in trust. This deposit will be forfeited if the buyer cannot close on the new extended closing date;
Sharon Stafford Sales Representative
Dan Golfi
Sales Representative
Rob Golfi
Sales Representative
• The buyer will have to pay the seller’s interest costs on any mortgage that cannot be discharged; so for example, if the seller has a $300,000 mortgage and interest accrues at 4 per cent interest or $33 per day, then the buyer has to pay this cost for the full extension period; • The buyer will pay the seller’s legal fees to do the extension, which can range from $250 $500, plus HST; and • The buyer may have to pay additional costs, depending on when the extension was requested; - for example, if the extension is requested on the closing day, and the seller has already packed up the truck, the seller may request payment of all of their additional moving costs as a result of the request. One of the main considerations for the seller in agreeing to give an extension is whether they need the money from the sale for their own home purchase closing the same day. This is what occurred to a buyer client of mine who required an extension at the end of October, 2013. Their seller also needed to close a purchase the same day. This seller was able to negotiate an extension of their own sale, but expected my client to pay all of their extension costs as well. Thus my clients had to pay the seller and the
Hans Marcellissen Sales Representative
Jeff Golfi
Sales Representative
Wendy Murray-Nicholson
seller’s seller a total of $2,500 to get a one-week extension. This was still a good result for my client, as they could have forfeited their deposit and faced a lawsuit if the seller did not agree or was not able to arrange the extension. If you know that you are going to need an extension, do not wait until the last minute to make the request. Let your lawyer or real estate agent know as soon as possible and make the request, so that no unnecessary costs, such as moving arrangements, are entered into. There is also closing protection insurance available to home buyers and sellers in Ontario. One such company who I work with (full disclosure) is Canadian Home Shield at www.canadianhomeshield.com . They offer insurance coverage for $99 for home sellers and buyers so that if their sale is delayed or cancelled and it is not their fault, they can claim for costs of up to $25,000. I have had several clients take advantage of this policy to collect damages such as increased moving costs as a result of delayed closings. Closing days are stressful enough for buyers and sellers. Be prepared before you ask for any extension. Mark Weisleder is a lawyer, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com
Mike McNeil
Sales Representative
Sales Representative
Violet Lowe
Christine Serafini
Sales Representative
Sales Representative
We Sell More... Because We Do More!
www.golfiteam.com
Kristina King
Sales Representative
January 20, 2014
Rob Golfi*
The Golfi Team Real Estate Market Watch
Page 9
Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook
stONey Creek
$639,900
hAmiltON West
$364,900
hAmiltON Ctr
$139,900
1489 /2 #8 Hwy
100 Beddoe Drive, Unit #21
213 Rebecca Street
Outstanding & immaculate custom built 1760 sq.ft. all brick bungalow sitting on one acre with 3 car garage, featuring beautiful hardwood through-out, stylish kitchen with granite counter tops, main floor laundry, partially finished basement with 3pc bath & rough in for kitchen.
SPECTACULAR RENOVATIONS! Open concept LR/DR with updated eat-in kitchen, granite counters, under cabinet lighting, & “Ciot tile” backsplash. Main flr has 9 foot ceilings and renovated powder room. Master BR ensuite with Jacuzzi tub. Beautiful gas FP with floor to ceiling stone mantle. New HE furnace and C/A. Huge dbl garage. Lower level rec room/den. New oak stairs.
Cute and Cozy Doll House! – This 2 bedrm bungalow located near the downtown core, features new windows 2011, new furnace 2011, shingles 2000, private fenced back yard, located near busses and shopping.
1
$2,556 per/mth P&i / O.A.C.
stONey Creek
$279,900
$558 per/mth P&i / O.A.C.
$1,457 per/mth P&i / O.A.C.
hAmiltON mtN
$264,900
hAmiltON eAst
$229,900
4 Lawrence Avenue
735 Upper Gage Avenue
186 Craigroyston Road
PRIME STONEY CREEK LOCATION. Well maintained backsplit, 2 bedroom, finished lower level w/ 3 piece bath, huge fenced yard w/walk-up from lower level, garage w/ door to back yard, numerous updates, high quality windows, oak kitchen & plenty of parking.
NICELY MAINTAINED WITH UPDATES. Used as a two family home with separate entrances. First floor and basement include 3 bedrooms, two baths, and big living room with fireplace. Top floor includes one big bedroom, living room, and kitchen with a separate entrance. Lots of parking!
FANTASTIC LOCATION in sought after east Hamilton neighbourhood close to schools, & shopping. Big house w/two bedrms on main floor w/separate dining room, large eat in kitch & huge living rm. Basement mostly unfinished w/new water line & loads of storage. Fenced rear yard w/shed & 3 car side drive.
$1,118 per/mth P&i / O.A.C.
WATERFRONT
stONey Creek
$1,058 per/mth P&i / O.A.C.
$918 per/mth P&i / O.A.C.
WATERFRONT
$1,769,900
Grimsby
$885,000
hAmiltON West
$349,900
9 Lochside Drive
143 Lake Street
100 Beddoe Drive, Unit 37
ONE ACRE WATERFRONT ESTATE – Features Luxury 4400 sq.ft. custom built bungalow with a private rare beach frontage and riparian rights, finished top to bottom with in-law suite, 9’ ceilings, 3 tier patio off sun-room, loft to roof top patio, main floor den, and floor to ceiling windows. Shows like a dream!
FABULOUS FIND – Exclusive listing to the Golfi Team. Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private culde-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.
LOCATION ROCKS!!! Walk to Innovation park, McMaster University, and minutes to 403 HWY. Looks out onto Chedoke Golf Course. Bedroom and large rec-room w/fireplace in lower level. Loads of storage, freshly painted, granite counter in big eat in kitchen w/lots of cupboards.
$3,535 per/mth P&i / O.A.C.
$7,069 per/mth P&i / O.A.C.
$1398 per/mth P&i / O.A.C.
E N RO E TH O N A LD O S burliNGtON
$449,000
526 Turner Drive Spacious 2 storey 4 BR home in a prime Burlington location close to schools, shopping & QEW. Features separate DR, LR, eat-in kitchen and finished basement with a gas fireplace. New furnace and central air installed in September of 2013. Other updates include windows, kitchen cabinets, entry doors, roof and driveway. $1,793 per/mth P&i / O.A.C.
hAmiltON
$112,540
stONey Creek
$299,900
40 Albany Avenue
81 Irene Avenue
CUTE, COZY & LOCATION ROCKS! updated windows, beautiful deck, eaves trough replaced. Basemenet waterproofed, shingles ‘07, gas BBQ hookup, could have bedroom in basement. Closing flexible, appliances included. Walk to new Center Mall and bus line.
Amazing space in this fabulous bungalow! Features beautiful original hardwood floors, mostly updated vinyl windows, professionally finished basement with in-law set up, oversized single car garage, shingles 5 years new, fenced yard, fantastic size lot, close to all amenities.
$112,540 per/mth P&i / O.A.C.
Call Today 905-945-0188
Page 10
The Golfi Team Real Estate Market Watch
January 20, 2014
Marketplace Clutter Removal & Organizing
Senior Downsizing
We Guide You Through The Entire Process
WE GUIDE YOU THROUGH THE ENTIRE PROCESS
Pamela Culp Blanchard Cell: 905-971-9568 www.beclutterfree.ca
Pamela Culp Blanchard Cell: 905-971-9568 www.seniordownsizing.ca
real estate lawyer
Paul lewis settimi
Barrister, Solicitor and Notary Public
Jacqueline Paradisi
8 Main Street East, Suite 303 Hamilton, Ontario L8N 1E8 Bus: 905-527-0808 Fax: 905-527-0774
HOME STAGING
paul.settimi@cogeco.net
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www.golfiteam.com
January 20, 2014
The Golfi Team Real Estate Market Watch
Page 11
Homes For Sale ANCASTER
HAMILTON MTN
STONEy CRk upR
LINCOLN
Bungalows/ Raised Ranches Starting at $319,900 26 Available
Bungalows/ Raised Ranches Starting at $210,000 42 Available
Bungalows/ Raised Ranches Starting at $349,999 5 Available
Bungalows/ Raised Ranches Starting at $176,900 26 Available
Two Storeys Starting at $409,000 59 Available
Two Storeys Starting at $219,000 91 Available
Two Storeys Starting at $282,000 17 Available
Two Storeys Starting at $219,900 27 Available
Semis and Town Homes Starting at $299,000 13 Available
Semis and Town Homes Starting at $169,000 16 Available
Semis and Town Homes Starting at $219,900 8 Available
Semis and Town Homes Starting at $182,000 29 Available
DuNDAS
HAMILTON WEST
STONEy CRk LWR
WEST LINCOLN
Bungalows/ Raised Ranches Starting at $304,900 3 Available
Bungalows/ Raised Ranches Starting at $219,900 12 Available
Bungalows/ Raised Ranches Starting at $187,900 23 Available
Bungalows/ Raised Ranches Starting at $279,900 5 Available
Two Storeys Starting at $399,900 10 Available
Two Storeys Starting at $229,900 24 Available
Two Storeys Starting at $299,990 54 Available
Two Storeys Starting at $389,900 7 Available
Semis and Town Homes Starting at $249,900 3 Available
Semis and Town Homes Starting at $189,900 11 Available
Semis and Town Homes Starting at $211,888 14 Available
Semis and Town Homes Starting at N/A 0 Available
HAMILTON EAST
HAMILTON CTR
GRIMSBy
GLANBROOk
Bungalows/ Raised Ranches Starting at $114,140 31 Available
Bungalows/ Raised Ranches Starting at $79,860 20 Available
Bungalows/ Raised Ranches Starting at $194,900 29 Available
Bungalows/ Raised Ranches Starting at $129,900 20 Available
Two Storeys Starting at $167,900 12 Available
Two Storeys Starting at $68,000 90 Available
Two Storeys Starting at $219,997 42 Available
Two Storeys Starting at $291,900 26 Available
Semis and Town Homes Starting at $129,000 19 Available
Semis and Town Homes Starting at $69,900 15 Available
Semis and Town Homes Starting at $239,900 10 Available
Semis and Town Homes Starting at $234,900 21 Available
Call Us Today for Information on Any of these Homes! 905-757-7700 • 905-945-0188 Call Today 905-575-7700
E V I T U C E X S E N W O T BLE D A L I L A V A O YS A D H 0 9 E TO E 0 6 R 0 F FROM 0 9 , 1 7 $2 ED
LUD HST INC
Stylish Towns with 9 ft. ceilings & double car garages, backing onto a 5-acre community park!
QEW
EXIT
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QEW
STADELBAURER DR.
SOUTH SERVICE RD.
SALES OFFICE
GREEN SPACE
Our Standards are most Builders Upgrades Luxury Ensuites Spacious 1,740 & 1,900 sq ft Designer Kitchens
DON’T MISS THE SAVINGS! SITE HOURS: Tues, Thurs 1-5pm Sat-Sun, 1-5pm Friday by appointment
REGISTER ON-LINE
www.homesbycambridge.ca
905-945-0188